Print Page      Close Window     

SEC Filings

8-K
FOREST CITY REALTY TRUST, INC. filed this Form 8-K on 10/30/2018
Entire Document
 
Forest City Realty Trust, Inc. and Subsidiaries
Selected Financial Information


Net Asset Value Components – September 30, 2018
Completed Rental Properties - Operations
 
Q3 2018
 
Net Stabilized
 
Stabilized
 
Annualized
 
Nonrecourse
(Dollars in millions)
NOI (1)
 
Adjustments (2)
 
NOI
 
Stabilized NOI
 
Debt, net (3)
Operations
A
 
B
 
=A+B
 

 
 
Office Real Estate
 
 


 
 
 


 
 
Life Science
 
 


 
 
 
 
 
 
Cambridge
$
22.3

 
$
2.1

 
$
24.4

 
$
97.6

 
$
(655.9
)
Other Life Science
4.4

 

 
4.4

 
17.6

 
(128.0
)
New York
 
 


 
 
 
 
 
 
Manhattan
14.4

 

 
14.4

 
57.6

 

Brooklyn
22.9

 
0.4

 
23.3

 
93.2

 
(349.0
)
Other Office
7.3



 
7.3

 
29.2

 
(111.6
)
Subtotal Office
$
71.3

 
$
2.5

 
$
73.8

 
$
295.2

 
$
(1,244.5
)
Apartment Real Estate
 
 


 
 
 
 
 
 
Apartments, Core Markets
$
35.8


$
1.2

 
$
37.0

 
$
148.0

 
$
(1,469.9
)
Apartments, Non-Core Markets
12.7

 

 
12.7

 
50.8

 
(305.9
)
Subtotal Apartment Product Type
$
48.5

 
$
1.2

 
$
49.7

 
$
198.8

 
$
(1,775.8
)
Retail Real Estate
 
 

 
 
 
 
 
 
Other Retail
$
11.9


$
(1.7
)
 
$
10.2

 
$
40.8

 
$
(434.0
)
Subtotal
$
131.7

 
$
2.0

 
$
133.7

 
$
534.8

 
$
(3,454.3
)
Straight-line rent adjustments
4.0

 

 
4.0

 
16.0

 

Other Operations
(1.3
)
 

 
(1.3
)
 
(5.2
)
 

Total Operations
$
134.4

 
$
2.0

 
$
136.4

 
$
545.6

 
$
(3,454.3
)
 
Development
 
 
 
 
 
 
 
 
 
Recently-Opened Properties/Redevelopment
$
2.6

 
$
5.5

 
$
8.1

 
$
32.4

 
$
(350.9
)
Straight-line rent adjustments
0.6

 

 
0.6

 
2.4

 

Other Development
(2.4
)

(1.6
)
 
(4.0
)
 
(16.0
)
 

Total Development
$
0.8

 
$
3.9

 
$
4.7

 
$
18.8

 
$
(350.9
)
Retail Dispositions
 
 
 
 
 
 
Gross Asset Value (4)
 
 
QIC
 
 
 
 
 
 
$
869.0

 
$
(328.2
)
Madison
 
 
 
 
 
 
77.9

 
(49.7
)
Total Retail Dispositions
 
 
 
 
 
 
$
946.9

 
$
(377.9
)
 

 
 
 
 
 
Book Value (3)
 
 
Projects under construction (5)
 
$
122.5

 
$
(61.0
)
Projects under development
 
$
245.8

 
$
(8.6
)
Land inventory:
 
 
 
 
Stapleton
 
$
64.2

 
$

Commercial Outlots
 
$
2.4

 
$

Other Tangible Assets
Cash and equivalents
 
$
521.4

 
 
Restricted cash
 
$
145.3

 
 
Accounts receivable, net (6) 
 
$
265.5

 
 
Notes receivable
 
$
526.5

 
 
Net investments and advances to unconsolidated entities
 
$
10.8

 
 
Prepaid expenses and other deferred costs, net
 
$
64.4

 
 
Recourse Debt and Other Liabilities
Revolving credit facility
 
$

 
 
Term loan, net
 
$
(334.0
)
 
 
Convertible senior debt, net
 
$
(31.8
)
 
 
Less: convertible debt
 
$
31.8

 
 
Construction payables
 
$
(78.5
)
 
 
Operating accounts payable and accrued expenses (7) 
 
$
(552.4
)
 
 
Share Data (in millions)
Diluted weighted average number of shares for the three months ended September 30, 2018
 
274.0

 
 

8